Basic Knowledge Test
Forex Fundamentals Quiz
Test your knowledge with our engaging Forex Fundamentals quiz! Whether you're a beginner or looking to sharpen your skills, this quiz covers essential concepts in Forex trading.
Challenge yourself with questions on:
- Contract sizes
- Bid-Ask spreads
- Trading terminology
- Calculating profits
1 standard lot in Forex is equivalent to a contract size of:
1 million units of base currency
100,000 units of base currency
10,000 units of base currency
1,000 units of base currency
What is term for the “difference between the bid and ask price”
Spread
Leverage
Margin
Pips
How much margin do you need if you wish to trade 0.50 lots in EURUSD, assuming your leverage is at 1:100 (margin required is 1%)? Price of EUR/USD is 1.0682
$50.31
$5,340
$534.10
$5.34
What is the price of EUR/USD if it moves up by 1 pip (from 1.35000)?
1.35001
1.35010
1.35100
1.3600
When I trade a CFD Product, I do not own the actual underlying asset.
True
False
The exchange rate of USD/SGD is now at 1.37447. How much is $50,000 USD in Singapore dollars?
SGD $70,788.50
SGD 68,723.50
SGD $36,377.65
SGD $36,887.64
What do you call an order that is placed to Buy Below the market price?
Buy Limit Order
Sell Limit Order
Buy Stop Order
Sell Stop Order
Please calculate spread for EUR/USD in pips. 1.06806/1.06837
0.31
3.1
31
310
In the currency pair USD/JPY, which currency is the base currency?
USD
Neithe
Both
JPY
What does the term BID price mean?
The price you can sell the base currency
The price you can buy the base currency
If you Buy 1 standard lot of GBP/USD at 1.5000 and close out one week later at 1.51400, how much profit will you earn in pips?
0.014 pip
1.4 pip
14 pips
140 pips
: Following up on above question - how much you will earn in $ amount?
$14
$140
$1,400
$14,000
{"name":"Basic Knowledge Test", "url":"https://www.supersurvey.com/QPREVIEW","txt":"Test your knowledge with our engaging Forex Fundamentals quiz! Whether you're a beginner or looking to sharpen your skills, this quiz covers essential concepts in Forex trading.Challenge yourself with questions on:Contract sizesBid-Ask spreadsTrading terminologyCalculating profits","img":"https:/images/course2.png"}
More Quizzes
Make your own Survey
- it's free to start.
- it's free to start.